The government is preparing to extend the Family Mortgage – Kommersant

The government is preparing documents to extend the Family Mortgage program, said Deputy Prime Minister Tatyana Golikova. According to her, “Family Mortgage” turned out to be the most popular, so the president approved its extension.

“Housing programs, such as the Family Mortgage and the additional payment of 450 thousand rubles, turned out to be the most popular. Therefore, the head of state decided to extend these programs, and now the government is preparing the relevant documents to extend these instruments,” Tatyana Golikova said at a plenary session on the sidelines of the Russia exhibition (quoted by Interfax).

According to the Deputy Prime Minister, during the period of the “Family Mortgage”, housing conditions were improved for 918 thousand families. In addition, 99.4 thousand mortgages were provided under the “Far Eastern Mortgage” (almost 98 thousand families in the Far East, another 1.4 thousand families in the Arctic zone).

“Family mortgage” at 6% (or 5% for the Far East) has been in effect since 2018. Last year it was expanded. Mortgages at a preferential rate are available to families in which their first child was born from 2018 to 2023, to families with two or more minor children or raising a child with a disability. The same conditions apply to families with adopted children.

In December 2023, President Vladimir Putin proposed maintaining the down payment on the Family Mortgage at 20%, as well as extending the subsidy for repaying the loan for large families.

Over the last month of last year in Russia provided mortgage loans amounting to RUB 32.3 billion—or 42% more than in November. The most popular was the “Family Mortgage” – about 40% of borrowers took it. Preferential mortgages accounted for 32% of mortgages, and the program for IT specialists accounted for 11.5%.

Anastasia Larina